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Today Companhia Vale do Rio Doce , the second largest diversified metals and mining company in the world, celebrated its cross-listing on Euronext Paris joined by the French Minister of Economy, Finance and Employment, Christine Lagarde and the Brazilian Ambassador to France, Mr. José Mauricio Bustani.
Based in Rio de Janeiro, Brazil, Vale is already listed on the São Paulo Stock Exchange - BOVESPA and on the NYSE. Vale is the third NYSE-listed company to seek a cross-market listing on NYSE Euronext in Europe, using the convenient, cost-effective fast-path process, which relies on existing U.S. registration documents for its European listing.
3,256,724,482 ordinary American Depository Shares (ADS) - 1 common ADS representing 1 common share issued by Vale - and 2,083,919,199 preferred ADSs – 1 preferred ADS representing 1 preferred share - were admitted onto Euronext Paris.
Vale’s ordinary and preferred ADSs are listed under the ticker symbols “VALE3” and “VALE5” respectively.
“We welcome Companhia Vale do Rio Doce to NYSE Euronext’s European markets”, said Jean François Théodore, Deputy CEO of NYSE Euronext. “The cross-listing of such major international companies demonstrates the advantages NYSE Euronext offers: of being able to list and trade in both the world’s major currencies, the dollar and the euro, and gain unmatched access to investors across continents and multiple time-zones.”
Background about Cross-Listing on NYSE Euronext European markets:
- NYSE Euronext is the first and only exchange group to offer a truly global cross-market listing, trading and visibility platform, providing cost-effective, convenient access to liquidity and investors in the U.S. and in Europe.
- NYSE Euronext is the first exchange group to offer companies ability to trade and raise capital in $ and EUR, and reach investors and constituents directly across continents and multiple time-zones, regions and countries.
